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Wednesday, 10 April 19
SHIPPING MARKET INSIGHT - INTERMODAL
 The tragedy in Brazil’s Vale Brumadinho where a tailings dam collapsed in January ranks among the world’s worst mining disasters. It continues to this day as the effects of the disaster ripple through local communities and the shipping industry.
As most of us are aware, Vale is the world’s largest producer of iron ore, and runs several deep-draft ports in Brazil as well as Indonesia, Malaysia and Oman, equipped to receive Valemax ships, the biggest mineral vessels in the world, with capacity for 400,000 tonnes of ore. The company charters Capesizes and Very Large Ore Carriers (VLOCs) and its fleet primarily services the Asian energy needs.
This is actually the second dam collapse incident Vale saw in less than four years. Back in 2015 a larger dam, Samarco Mineracao SA, a joint venture between Vale and BHP, collapsed claiming the lives of 19 people and creating a major environmental disaster. So coming just a few years after a similar disaster in the same state, the Brumadinho collapse enraged many in Brazil, particularly when everyone found out that Vale had earlier received warnings about its fragile state.
The crisis at Vale is already rippling worldwide with strong effects on the iron ore markets and the Capesize segment. The price of iron ore last week surpassed $90 a tonne amid concerns that the closure of Vale’s dams could provoke a supply crunch. The company itself said it would sell a maximum of 330m tonnes of the raw material this year. Last year Vale produced 380m tonnes.
Tailings dams are cheap and obviously risky. The upstream sort have been banned in Chile and are very rare in America and Europe. Their widespread use in Brazil is one way the government helps mining firms. Miners such as Vale in particular, are obviously favoured because they often shoulder the responsibilities of governments in remote places, building schools and hospitals, for example. In Minas Gerais (literally, “General Mines”), the state where Brumadinho is located, Vale often dominates local economies as we can all understand.
This disaster weighed heavily on the market for big Capes, with still a lot of uncertainty about shipments/future exports leading to a sharp drop in rates. The miners had largely been absent from the market recently, with just a handful of other player in the region with large iron ore cargoes to move. Rates are expected to still experience a significant pressure moving forward. It is quite a unique situation and it is interesting to see it’s future dynamics in the Capesize sector.
By Christopher Whitty
Director, Towage and Port Agency Division
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
George Panagopoulos
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Wednesday, 23 August 17
THE STRONG IRON ORE TRADE ROUTES SUPPORT CAPESIZE SEGMENT - INTERMODAL
The upward trend in the Capesize segment is definitely being supported by the strong momentum in the key iron ore trade routes. The price of high-q ...
Tuesday, 22 August 17
WHAT IS A RELEASE CALL?
KNOWLEDGE TO ELEVATE
Joining a mutual P&I Club means each Member shares in the fortunes of that Club and its membership. The continuity of ...
Tuesday, 22 August 17
THOSE DOG DAYS OF SUMMER STEEL PRODUCTION IN CHINA - COMMODORE
COALspot.com: One popular but inaccurate narrative that makes the rounds every June and July (and occurred again this year) is that China’s s ...
Monday, 21 August 17
BANPU REVEALS FIRST HALF 2017 WITH STRONG RESULTS; SUPPORTED BY HIGHER COAL PRICES
Banpu Reveals First Half 2017 with Strong Results from Higher Coal Prices Gearing Up to the Era of New Energy with Banpu Greener & Smarter Stra ...
Monday, 21 August 17
INDIA'S COAL IMPORTS DECLINE TO 192 MT IN FY17 - PTI
Import of coal saw a decline of 6.37 per cent to 191.95 million tonnes (MT) in 2016-17 on higher production by CIL that saw the country move to a r ...
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Showing 1961 to 1965 news of total 6871 |
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- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Australian Coal Association
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
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